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What are Credit Unions?
Credit unions, like the Financial Trust Federal Credit
Union, are financial cooperatives that are operated solely
for the benefit of their members. Unlike banks, credit
unions are not-for-profit organizations, so the primary
focus is on how we can best benefit our members' economic
well-being, not on making a profit.
When you become a member, you
also become an owner of the credit union. So each
member/owner has a voice in how the credit union is run and
can earn dividends, depending on how profitable the credit
union is.
Each year at the annual
meeting, you and your fellow members will help elect a Board
of Directors who run the credit union as volunteers working
for the membership. This board meets once a month to
determine policies, establish goals, and set savings and
loan interest rates-rates that are usually far more
competitive than those offered by any bank.
With nearly 11,700 credit
unions in the United States and more than 75 million
members, it's easy to see that more and more people are
finding the benefits of credit union membership far exceed
the advantages any bank can offer. And the motto that was
long ago established by credit union founders--"Not for
profit, not for charity, but for service"-still rings true
today.
Who is Financial Trust Federal
Credit Union?
Originally charted by GM employees
more than fifty years ago. Financial Trust Federal Credit
Union has now grown to more than 8,500 members with assets
of over $30 million.
Over the years, we have
evolved into a full-service financial institution, expanding
to meet the changing needs of our members and to provide a
greater number of individuals with the opportunity to enjoy
all the benefits and savings we offer.
We
are proactive in determining the individual financial needs
of our members and providing them with appropriate products
and services.
The following is the VISION the
Board of Directors has adopted.
IMAGE
To be recognized as a trusted, convenient, service oriented,
secure and well-managed, member owned, local financial
service provider to members of Financial Trust FCU, their
families and by the community of Erie County. This
recognition will be shared by our membership, employees,
volunteers and business partners.
PRODUCTS
To offer value through a strategic array of cost effective,
competitive products and services that will provide benefits
to our members. Our products and services will be flexible
to meet our members needs on a personalized basis.
MEMBER
PARTICIPATION
We will work with members to learn to save as well as
increase loan limits to promote a mutually beneficial
relationship by providing members with appropriately priced
products and services.
QUALITY MEMBER
SERVICE
We will strive to consistently deliver quality service to
our membership that creates a positive experience. We will
be proactive in determining the individual financial needs
of our members and providing them with appropriate products
and services.
COMMUNITY
Increase credit union visibility and demonstrate commitment
through meaningful involvement within our Financial Trust
FCU committees and community.
BOARD OF
DIRECTORS AND SUPERVISORY COMMITTEE
They are business minded, knowledgeable, committed and
support management in achieving the credit union's vision
and goals.
EMPLOYEE
We will have a diverse staff which is responsive,
knowledgeable, technically motivated, professional and
results oriented. They will have a through understanding of
our business, including the competitive forces. They will
serve our members multiple financial needs and are committed
to working together to achieve the vision and goals of the
credit union.
Why would a company elect to
have it's employees belong to a credit union?
When an employer offers their employees the opportunity to
become a member at a credit union they will enjoy many
long-lasting benefits-all at no cost to the company. As a
member of Financial Trust Federal Credit Union members will
receive significant financial benefits through a variety of
products and services that offer substantial savings and
potential for financial growth.
How can you or your company
Join our credit union?
Contact us for more information
Financial Trust FCU
3333 Harlem Road
Cheektowaga, NY 14225
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